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The Effect Of Privatization And Commercialization On The Nigerian Economy (1970-2010)
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1.2 STATEMENT OF THE PROBLEM.
In a developing country like Nigeria,
privatization and commercialization of public enterprises is considered
by many as a vital tool for the growth and development of the economy.
In Nigeria some of the problems facing privatization and
commercialization program include;
a) lack of accountability
b) corruption
c) lack of transparency
d) inconsistency
it
is important to note that the major function that informed the
establishment of these public enterprises are to control the resources
and raise funds for the provision of certain infrastructural facilities
particularly in services requiring heavy financial investment e.g.
railway, electricity, telecommunication etc, also to perform the
function of generating revenue that will add to financial development
program and projects as veritable instrument for the creation of jobs;
and ultimately facilitate economic growth and development.
However it
is based on the problems, that the basic propositions of this
privatization and commercialization program are being hindered. In
trying to look into these discrepancies and proffer a way forward
towards a state of privatization and commercialization of public
enterprises in Nigeria, that enhances economic growth and development,
this research work emanated.
1.3 OBJECTIVE OF THE STUDY.
This
study has the main objective of ascertaining the effect of privatization
and commercialization of enterprises on the Nigerian economy.
Specifically
we intend to compare the pre and post privatization and
commercialization era, so as to determine the specific effect.
1.4 STATEMENT OF HYPOTHESIS.
The hypothesis tested in this study is stated in its null form as follows:
Ho: privatization and commercialization has no significant effect on the GDP in Nigeria.
1.5 SIGNIFICANCE OF THE STUDY
This
research work will help the government and readers to understand those
benefits that privatization and commercialization program embodies which
we have neglected and politicized within the past. In understanding
this on the side of the government, it will allow them to rethink and
work towards real implementation of it and thereby creating a room for
the rapid growth and development of this country.
At the other hand,
it will go a long way to create an avenue for more academic research.
The importance of any research is to finding out solutions that faces
mankind and the environment or society. The study creates awareness to
every citizen of this country and economic planners on the implication
of these privatization and commercialization of public enterprises in
Nigeria economic development.
1.6 SCOPE OF THE STUDY
The scope of
this research work focused strictly on the effect of privatization and
commercialization programmes on the Nigerian economy 1970 to 2010.
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ABSRACT - [ Total Page(s): 1 ]The privatization and commercialization of Nigerian enterprises today, faces a lot of challenges in tackling the menaces of corruption and mismanagement of public funds. It is because of social issues like economic inequalities, unemployment that made the state to interfere in economy of Nigeria. Government chose public sector as a means or medium for economic and social development due to poor managerial skill, weak technological base etc, this enhanced the zeal to establish various enterprises ... Continue reading---
